JPMorgan is the first bank into the metaverse
$JPM.US$, the largest U.S. bank, said it has opened a lounge named ONYX in Decentraland, a virtual world based on blockchain technology. It has become the first bank into the metaverse and provide lending services.
According to the JPMorgan analysis, "in time, the virtual real estate market might see services similar to those found in the physical world," such as credit, mortgages, and rental agreements.
Work in the metaverse will also be gainful, said the report, pointing to a range of entertainment providers, as well as apps like RTFKT, a virtual shoe designer recently acquired by $NKE.US$. Another significant investment will most likely be in advertising, according to the bank, which estimates that in-game ad spending would reach $18.41 billion by 2027.
Do you think JPMorgan's placement of the metaverse will put him ahead of other investment banks?
Source: CoinDesk
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Crypto news and opinion. ༼ つ ◕_◕ ༽つ Crypto enthusiastic (Not a financial advisor)
2127Followers
1Following
4030Visitors
Follow
Syuee : $JPM.US$ is the first Wall Street bank to launch a presence in the metaverse as it seeks to capitalize on the metaverse.
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
There is even a tiger roaming around it! 
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Onyx lounge is so spot on!
$JPM.US$ has also released a report that predicts the Metaverse will generate $1 trillion in revenue each year.
Other institutional banks will highly likely follow suit to join JPMorgan in the virtual sphere. Who doesn’t want to grab a piece of the chunky pie, isn’t it?
DBCoopson : they are giving out classes
CrowKing : yes it would but it opens a door for individuals with the necessary skills to wipe account clean if security is state of the art maybe not but their will always be away in and I believe this is the new way
三和巴菲特 : Centralized institutions have entered the decentralized market